Jul 14, 2011 6:00pm PDT
in the senate for us. how does austerity look for ordinary italians? >> the big weakness of this budget is it puts off some many of the cuts and tax increases until 2013, 2014. that is not coincidental. there is a general election in june 2013. all of this will have to be done by the next government. in the meantime, there is going to be a gaming tax, increased health charges, cuts in pensions, but only for the highest pensions -- and in italy, pensions are pretty generous. this is not a budget which in the short-term is going to lead anybody into destitution. >> in other news, syrian pro- democracy activists say government forces have killed at least nine people as protests against the president continue. reports indicate the military crackdown on opposition activists in damascus and hana. police have arrested members of opposition supporters. non-governmental organizations say at least 1600 people have been killed since the uprising began four months ago. 13 turkish soldiers have been killed in an attack in the southeast of the country. officials say kurdish militants ambushed troops.
Jul 6, 2011 6:00pm PDT
their salaries. there are not job opportunities. people are not able to get back to normal life. that is the big challenge for the national transitional council. in west libya, the fighting is going on. there is a gap and a difference between the east and west libya. >> us talk about the facebook generation. how much of a difference is it making in libya? >> it is interesting to me, the rebels. they are the generation of facebook. the people fighting now are those who used to chat on facebook. this helps indication between them. even to get international attention by spreading videos and photos. the proof of that was that gaddafi shut down the internet. in the gaza, they are getting access again. >> what can the international community to to support the rebels? >> the most important thing is that they recognize the national transitional council as the traditional -- legitimate representative of the libyan people. that is the most important thing. they will meet in is a symbol. they will work to support the libyans financially. -- they will meet in istanbul. >> what can germany due to support the
Jul 25, 2011 6:00pm PDT
as the big three, and command a 93% share of the market. they look at the books of businesses and countries and judge how able they are to pay back financial observations. in a complex internet -- international economy, this information is vital to investors. when the bretton woods system of monetary management fell apart in the 1970's, the role of ratings agencies became even more important. the u.s. government gave them the task of assuring financial reliability. the european union has also require banks to increase capital in line with risk exposure. that risk is measured by the ratings agencies. >> the influence of ratings agencies lies on the one hand in the way their evaluation system has been incorporated into legislation. on the other hand, many business contracts are tied to the marks of the ratings agencies. that means certain private investors will only invest if there is a certain rating. >> one such example is the insurance giant allianz, which relies on ratings agencies to invest huge amounts of capital. but that system historically failed on a massive scale and when the agenc